Biogen Idec Earnings: Here’s Why Investors Like These Results
Biogen Idec Inc. (NASDAQ:BIIB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2%.
Biogen Idec Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 26.37% to $2.30 in the quarter versus EPS of $1.82 in the year-earlier quarter.
Revenue: Rose 21.29% to $1.72 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Biogen Idec Inc. reported adjusted EPS income of $2.30 per share. By that measure, the company beat the mean analyst estimate of $1.93. It beat the average revenue estimate of $1.62 billion.
Quoting Management: “With a strong start for TECFIDERA in the U.S., as well as approvals in Canada and Australia, we expanded our leadership position in the treatment of multiple sclerosis,” said George A. Scangos, Ph.D., Chief Executive Officer. “With three regulatory filings completed, three potential launches in 2014, and data readouts expected in 2015 and 2016, we have entered a new era of growth for the benefit of patients, clinicians and our shareholders.”
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